Sri Lanka offers better returns than European markets: Ravi
ECONOMYNEXT – Sri Lanka is now focusing on economic stabilization and offers better returns than European markets, Finance Minister Ravi Karunanayake has told Swiss investors.
He spoke at the first investor forum in Zurich held by the Colombo Stock Exchange (CSE) in association with the Swiss Asian Chamber of Commerce which drew strong interest by Swiss investors.
The CSE said in a statement that the event saw the participation of major institutional investors.
Karunanayake called on Swiss investors to invest in the island, saying that since the change of government in January 2015, there is a strong national oriented government in place ushering in sustainable political stability for Sri Lanka.
“Now that the process of political stabilization has taken place, the government is laying emphasis on the economic stabilization of the country,” the statement said.
Karunanayake said that they have de-politicized the running of the administration through independent commissions appointed to look after the financial system, law and order, and human rights.
He assured investors that investing in Sri Lanka would bring them better returns than investing in traditional European markets, the statement said.
Chairman of the CSE, Vajira Kulatilaka said the time to invest is now, as the market was relatively cheaper than most markets in the region and had outperformed most regional markets.
He said he saw Sri Lanka`s low market cap to GDP ratio against other markets as a growth opportunity.
The low co-relation with major global indices provided an excellent diversification opportunity for global institutional investors, the CSE said. (Colombo/October 28 2015)